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TORONTO—Maple Leaf Foods announced on Aug. 23 that it is entering into a definitive agreement to sell Rothsay, its rendering and biodiesel business, to U.S. food waste recycling company Darling International Inc.

The sale of Rothsay, which operates six rendering plants across Canada and a biodiesel facility in Quebec, supports Maple Leaf’s “strategy to focus on effective capital deployment and profitable growth on the consumer packaged foods market,” President and CEO Michael McCain said in a release.

The transaction, a sale of about $645 million, is expected to close by the end of the year and, according the release, will be used initially to pay down debt. Upon completion of Maple Leaf’s prepared meats strategy, management will consider appropriate deployment of surplus capital.

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Ishcom Publications was established in 1986 with the launch of Ontario Restaurant News, offering national coverage with a provincial focus of the news that matters to the restaurant and foodservice industry. The company expanded its regional concentration with the addition of Pacific/Prairie Restaurant News and Atlantic Restaurant News. In 2004, Ishcom Publications added Canadian Lodging News to its portfolio to offer its industry news coverage to the accommodation sector.